Radius Recycling (NASDAQ:RDUS) Rating Lowered to “Sell” at StockNews.com

Radius Recycling (NASDAQ:RDUS) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, The Goldman Sachs Group began coverage on Radius Recycling in a research report on Monday, December 2nd. They set a “neutral” rating and a $22.00 target price on the stock.

Radius Recycling Price Performance

Shares of RDUS opened at $15.23 on Thursday. The firm has a 50-day simple moving average of $18.02 and a two-hundred day simple moving average of $16.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.92 and a quick ratio of 1.00. Radius Recycling has a 1-year low of $12.69 and a 1-year high of $31.59. The stock has a market cap of $427.03 million, a PE ratio of -1.63 and a beta of 1.59.

Radius Recycling (NASDAQ:RDUS) last released its earnings results on Thursday, October 24th. The basic materials company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.18. The company had revenue of $771.00 million during the quarter, compared to the consensus estimate of $680.80 million. Radius Recycling had a negative return on equity of 9.83% and a negative net margin of 9.73%. Radius Recycling’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 EPS. As a group, analysts forecast that Radius Recycling will post -1.02 EPS for the current year.

Insider Buying and Selling at Radius Recycling

In other Radius Recycling news, SVP Steven Heiskell sold 17,675 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $17.08, for a total value of $301,889.00. Following the completion of the transaction, the senior vice president now directly owns 133,780 shares in the company, valued at approximately $2,284,962.40. The trade was a 11.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Radius Recycling

Several institutional investors and hedge funds have recently bought and sold shares of RDUS. American Century Companies Inc. increased its position in shares of Radius Recycling by 2.9% in the second quarter. American Century Companies Inc. now owns 564,717 shares of the basic materials company’s stock worth $8,623,000 after acquiring an additional 16,162 shares in the last quarter. FMR LLC increased its holdings in Radius Recycling by 23.7% in the 3rd quarter. FMR LLC now owns 951,337 shares of the basic materials company’s stock valued at $17,638,000 after purchasing an additional 182,435 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Radius Recycling in the second quarter valued at about $30,000. Algert Global LLC purchased a new stake in shares of Radius Recycling in the third quarter worth about $922,000. Finally, Systematic Financial Management LP grew its stake in shares of Radius Recycling by 8.5% in the third quarter. Systematic Financial Management LP now owns 630,962 shares of the basic materials company’s stock valued at $11,698,000 after buying an additional 49,450 shares in the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

Radius Recycling Company Profile

Radius Recycling, Inc recycles ferrous and nonferrous metal, and manufactures finished steel products worldwide. The company acquires, processes, and recycles salvaged vehicles, rail cars, home appliances, industrial machinery, manufacturing scrap, and construction and demolition scrap. It offers recycled ferrous metal, a feedstock used in the production of finished steel products; and nonferrous products, including mixed metal joint products recovered from the shredding process, such as zorba, zurik, aluminum, copper, stainless steel, nickel, brass, titanium, lead, and high temperature alloys.